Flutter Entertainment Lowers 2024 US Revenue Guidance Over Lucky Streak by NFL Bettors

MT Newswires Live01-08

Flutter Entertainment (FLUT) said late Tuesday that it has lowered its 2024 US revenue guidance to $5.78 billion, from a previous range of $6.05 billion to $6.25 billion, citing reduced gaming revenue due to successful betting during the 2024 to 2025 professional American football league season.

Analysts surveyed by FactSet expect $6.06 billion.

The company said it now expects Q4 US revenue of $1.59 billion. Analysts polled by FactSet expect $1.86 billion.

Flutter said that the bets cost the company $438 million in revenue and that the bettors' lucky streak will have "no impact" on the company's long-term trajectory, business assumptions, and guidance expectations.

Shares of the company were down more than 1% in recent Wednesday premarket activity.

Price: 248.65, Change: -3.21, Percent Change: -1.27

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